Repco Home Finance to raise Rs 100 crore via bonds

NEW DELHI: Repco Home Finance will raise Rs 100 crore by issuing a 3-year tenure bond on private placement basis next week.

"A meeting of the Securities Allotment Committee of the Board of Directors will be held on October 5, 2016 to consider and approve the private placement of rated, listed, secured, redeemable non-convertible securities in the nature of debentures," it said in a regulatory filing.

The issue size is of Rs 100 crore and the bonds are to be issued on a private placement mode, it added.

The company said the bonds will mature on October 4, 2019.

Coupon rate on the bonds is at 8.5 per cent per annum.

The Chennai-headquartered housing loan company was set up in April 2000 to tap the growth potential in the housing finance market.

Currently, the Goods and Services Tax (GST) is levied at 12 per cent on payments made for under-construction property or ready-to-move-in flats where completion certificate has not been issued at the time of sale.